Making stuff and selling it to other countries is so 1960s. Why produce when we can consume? They don’t call us consumers for nothing. Do you think our love of eating and drinking is evident?
We will surely create a new and prosperous nation by shifting millions of our workers into the bar and restaurant industry. Eating our way to prosperity.
The New Normal America: A Country Where Eating And Drinking Is The New Manufacturing
Submitted by Tyler Durden on 06/10/2013 15:51 -0400
For a long time we have been seeking a chart that captures the pure essence of America’s transition into its “new normal” mutant clone, in which record high stock markets coexist with record high foodstamp usage; in which record public debt amounts coexist with record low interest rates; in which the Fed is responsible for 20% of the US GDP but which is forgiven if it means the second coming of a housing bubble giving people the false hope of another “flip that house” get rich scheme. We believe we have found it.
On the chart below we show the number of US manufacturing workersover the past decade (currently at levels first seen in 1941) on one axis; and the number of bar and restaurant employees - currently at an all time high - on the other. For those asking, in the past year the US has added 366,700 “food service and drinking places” employees and a whopping… 41,000 manufacturing workers.
And that, in a nutshell is the new America: a nation in which more than ever eat out, in which almost nobody actually produces anything.